JULY 29 TUESDAY

SHORT TERM TREND : SIDEWAYS : TARGET RS 337 TO 345

LONG TERM TREND : BULLISH : TARGET RS 405

S1 RS 337.30 , S2 RS 335, S3 RS 332

R1 RS 342 , R2 RS 345, R3 RS 348

Copper Rises in N.Y., Erasing Loss, as Oil, Dollar Lift Demand .

Copper rose in New York as a weaker dollar and higher

energy prices boosted demand for commodities as a

hedge against inflation.

Copper futures for September delivery increased 0.7 cent, or

0.2 percent, to $3.612 a pound on the Comex division of the

New York Mercantile Exchange. Most-active futures still

dropped 1.9 percent in the past five sessions.

Copper fluctuated between rising and falling today as traders

weighed inflation concerns with an outlook for slowing global

growth. Most-active futures gained as much as 0.8 percent

and lost as much as 0.5 percent.

Crude-oil futures for September delivery fell as much as 0.5

percent in New York before climbing later in the session.

The U.S. Dollar Index, a weighted gauge that includes the

euro and yen among six major currencies, fell as much

as 0.3 percent.

Rising stockpiles also weighed on the metal today. Inventories

monitored by the London Metal Exchange gained 1.9 percent

to 136,050 metric tons, the highest since March 5.

On the LME, copper for delivery in three months gained $39,

or 0.5 percent, to $7,995 a metric ton ($3.63 a pound).

The price reached a record $8,940 on July 2.